In a shocking turn of events, Martin Winterkorn, the CEO of world’s leading carmakers, Volkswagen, apologized endlessly for the company’s cheating with the diesel emission rules in the United States. Volkswagen’s cheating affects nearly 11 million cars across the world. In an apology video published on the company’s website, Winterkorn pledged full co-operation with the American investigation authorities.
In its attempt to give out low diesel emission levels and test cleaner than they are, Volkswagen installed a cheating software in over half a million cars in the US. However, the scandal broke out on Friday when the U.S. regulators alleged that the company had ‘programmed’ its cars to emit lower levels of harmful substances.
This scandal by the German auto manufacturers rattled off the customers and investors worldwide, and more countries in Asia and Europe are expected to join the list of business avenues where Volkswagen resorted to cheating.
The company also suffered heavy losses with this scandal, as Volkswagen will spend close to $7.3 billion on the recalling and correcting the cars from the US and other global markets.